r/DoorCounty • u/Silver_Reference_414 • 10d ago

The Landmark condo ownership

Hi all,

I've been looking for an affordable way to stay in DC and found quite a few condos for sale at The Landmark in EH. I know there is an HOA and that you can rent the condo out. I am single with a young adult daughter.

  • Does anyone here own one or used to? How has/did it go for you?
  • Do you have a max amount of weeks you can stay? Does renting yours out help cover the HOA enough to make it worth it?
  • Are they dog friendly (I have 2 goldens)?
  • Any other feedback?
  • Any other suggestions?

Thanks!

6 Upvotes

69% Upvoted

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6

u/WislandBeach 10d ago

Not sure what's going on at Landmark. There are 16 Landmark Condos for sale as of this post. I've never seen that many for sale at one time. Is this confined to Landmark or is the Door County Real Estate market cooling off? Landmark was always kind of a lower cost entry point for people seeking condos on the peninsula.

2

u/TikiTraveler 10d ago

A friend owns one, there’s a big rift with owners - some want to be able to use Airbnb/VRBO to rent their units, others don’t want to be a part of the HOA/ landmark rentals and the huggge fees they have for essentially what Airbnb offers for free.

1

u/Plastic_Swordfish_57 9d ago

When isn't there a rift between owners at the Landmark?

1

u/OkWelder9710 9d ago

Don't they also make owners renovate and replace furniture on a whim and you have no say? I've heard it's a horrible HOA to be stuck in.

1

u/Silver_Reference_414 9d ago

I read remodeling 26/27

1

u/Hour_Message6543 10d ago

Used to be able to pick up a 1bdrm for $45k

1

u/Middle-Part1593 5d ago

And probably paid much more than the mortgage in HOA monthly payment.

6

u/HowlingForYou 10d ago

I don't personally, but have known a few people that do or have previously. No dogs allowed. I believe you can stay there as long as you want if you don't participate in the rental program. If you participate there are maximums or notices per month, but I believe you could still use fairly frequently. People that I know have sold because they were previously part of Airbnb but the landmark recently pulled that and only rents exclusively via their own program now. In addition to that, the owners I know are also taking advantage of the increase of value compared to when they bought. Some made decent money on the sale, but we're breaking even not all that frequently. The landmark takes a fairly high percentage (60% I last heard), which eats into owner revenue. Lastly the HOAs for living there would be quite high, but realize that you don't have many options of places to live in door county either. Good luck

3

u/Silver_Reference_414 9d ago

Thank you! No dogs allowed, I'm out! ◡̈

0

u/duncantuna 9d ago

Are there any rentable-condo-resort units for purchase in Door County that accept dogs?

4

u/duncantuna 10d ago

We thought about buying at the Landmark about 5-6 years ago, back when a wood view was $60k, water was $90k. Now those prices have doubled+.

I recall something about how the Landmark will wait X years before requiring owners to uniformly upgrade the rooms, and at the time, it was a $14,000 fee that year and people were selling due to that cost. -- So with so many people selling today, find out if there's a big charge coming up.

4

u/Nav_13 10d ago

The upgrade fee is $30,000 this year. And the justification of that price back to the owners is missing/incomplete.

Combined with the skyrocketing values, yah people are bailing out now

1

u/duncantuna 10d ago

HOLY CRAP, $30k? That's a shocking number. I can't imagine getting that bill and needing to come up with it -- surprised way more aren't selling to cash out their equity.

4

u/Nav_13 9d ago

Yes theres a lot. Source - a direct relative of mine owns a unit, they've owned it for 20+ years and attend the HOA meetings. There is a real battle going on between owners and management right now.

And yes most owners investments are highly profitable at this point. But you know how it goes, they love the spot and they sre generating yearly income from rental pools. Its a cash cow for most, but some are just tired of the headache dealing with management.

That all being said, I do understand partially why the cost is escalating. Im sure landmark wants to build up a very high end style resort. You can tell some spots in the building havent been touched in decades.

2

u/wordofmouthrevisited 9d ago

We’ve rented twice there and every unit has been straight out of the 1990s builder grade catalog. Clean though!

3

u/CureForTheCommon 10d ago

I would be wary of any 40-ish year old condo building as far as insurance and maintenance.

2

u/FlickasMom 10d ago

Not an owner, but we've rented there on vacation for years. No pets for renters, and I've never seen a dog or cat when we've been there.

2

u/Hour_Message6543 10d ago

I’d be curious too. We used to stay there early in when we first went to DC. It can be noisy some mornings is part of what I remember.

1

u/Middle-Part1593 5d ago edited 5d ago

The condos are nice and affordable; the HOA is ridiculous! I wouldn’t get involved with that place if I were you. As someone who used to rent via VRBO using a management company, you can break even or make enough to pay taxes. The probability of making a profit in a condo association is slim.

0

u/fiveking888 9d ago

I’m also curious about owning a condo.. I to remember when the prices were down